What is the benefit of hiring a professional management company?
Here at SJA Property Management we pride ourselves on managing each property as though it were our own personal investment. We handle all the marketing, showings, tenant screening, document execution, maintenance and walk throughs. We also are able to deal with difficult tenant situations and ensure that our clients’ interests and liabilities are protected. We constantly are striving to improve our processes and procedures to ensure the best possible outcomes for our clients. We want to make sure your experience is as stress free as possible. All this equates to more money in our clients’ pockets at the end of the year.
How do you market a rental property?
Once we have a signed management agreement, the assigned manger will immediately start getting the marketing package together. The property is added to the available properties section of our website, as well as over 25 other online sites. We also work with local relocations companies in the area, helping them place their transferring employees and executives. In addition we are receiving approximately 70 to 100 phone calls a day from prospective tenants. This ensures that all SJA properties receive the maximum exposure and rent as quickly as possible. One of the biggest expense items a landlord has is vacancy rate, we have the resources to keep that as low as possible.
What needs to be done to prepare a property for the market and a tenant?
The property should be in the best condition possible. This will help ensure the property rents for the most money possible, a quality tenant is found quickly and your days on market are low. The property should be very clean and all the carpets should be professionally shampooed. Paint should be in good condition with dirty and scuffed areas touched up. We recommend that bright colors be repainted to neutral tones. All personal items should be removed from the property. Everything in the home should be functioning properly and the outside yard should be in good shape.
How is the rental amount determined?
In order to determine the fair market value of a rental home, we first check what comparable properties in the area have rented for, both in our current portfolio as well as other properties on the market. We also factor in a particular neighborhood’s demand and the time of year the property is being marketed. We are professionals and we’ll be able to determine the right price for the property fairly quickly.
Should I accept pets or smokers in my rental property?
This will depend on your individual comfort level. SJA recommends that you consider accepting tenants with pets. Statistics show that around 75% of tenants own a pet and therefore by not allowing them you are at disadvantage for finding a tenant quickly. We do not allow dangerous breeds and each pet should be properly licensed. We typically would increase the security deposit accordingly to ensure that there are enough funds to repair and potential damage. We recommend not allowing any indoor smoking. All SJA properties are smoke free.
Can I choose which tenant rents my home?
Fair housing laws regulations are very strict and prohibit any discrimination of tenants who members of a protected class. The laws are complex and there are many variations from City to City. SJA Property Management ensures all our owners are incompliance with these laws while still making sure each tenant is extremely well screened.
How long does it take to rent a property?
We understand that vacancy is one of the biggest expenses for a landlord and we work diligently to rent our properties as soon as possible and we have the horsepower to find tenants quickly. Price and market conditions will also drive vacancy periods. Our goal is to have every property rented within one month from when we starting marketing. Currently, we average 14 days to fill a vacancy, which is well below the industry average.
How will I know my property is being taken care of by the tenant?
We take several steps to ensure our owner’s properties are being well maintained. Our screening process is very thorough and ensures only the best applicants are approved for our properties. We have well-written leases that protect our client’s best interests and we require large security deposits. At our move-in walkthroughs, we utilize technology to accurately document the home’s condition with many photos and descriptions. We will also perform an initial Rent Ready inspection of the property and then another exterior/interior 40 point review of the property, on a yearly basis. We verify that all the major systems in the house are working properly and that there are no lease violations. We compile an electronic report complete with pictures and send it to our owners, along with our recommended action steps, if needed.
What happens if there is an emergency on the property?
SJA Property Management provides a 24hr emergency service 7 days a week, 365 days a year. We handle the late night calls so you don’t have to. Through an extensive network of vendors and contractors we are able to take care of any issues quickly and efficiently.
How will I receive my rent funds?
We disperse all rent funds into our owner’s accounts through ACH automatic payments. Along with the payment, we email our owners an itemized statement detailing any expenses on their account. Owners will also receive their own personal log in information, where they can log into our cloud based system and review any past statements.
How are repairs handled?
The Landlord Tenant Act is very specific as to how repairs need to be made and we ensure that our owners are in compliance. We have a full-time, dedicated maintenance coordination team, who is responsible for troubleshooting and approving all maintenance requests from our tenants. Our tenants submit requests in writing through our online portal to ensure proper documentation. It is our policy to gain owner approval for all repairs that are over the “Authorized Repair Limit”. Any repairs made will either be charged to the tenant or deducted from the owner funds on account and will be reflected on the next month’s owner’s statement. To minimize our client’s liability we require that all our vendors are licensed and insured. We also receive preferred pricing from our vendors and pass those savings along to our owners.